What is your take on the sudden drop of bitcoin from 79 to 67k?

[Pikiboy]

From what I actually sense now many people had already feels discouraged currently based on the sudden of bitcoin price but guess what?
This is not the end of the price bottom yet as we know there are more chances for the price to drop below expected and as an a good investors this has given us another best opportunity to keep refilling our portfolio because it is only when the price drops we could have that chances to accumulate, but this is not the end of bitcoin price because if you tracked back bitcoin history 8 years back you would see that a worst case scenario has even happened so seeing bitcoin dropping to this level should not be a thing that would make us sober or think this is the last hope for us to see it rise again.

Cheer up and keep doubling your investment, you can do that through the DCA method if you don't really trust the market maybe thinking it would fall below this you can the dca to accumulate and when it falls more you could keep acquiring it gradually without being affected entirely and whenever the price rises back you would doubled your profits. Keep acquiring when the price drop and cheer up to know that there is rainy and sunny days, currently we are facing the raining moment on the price of bitcoin so it is advisable to refill your opened bucket.
I say make I bring this words encouragement to we people here as the market dey bleeding seriously.

[Charles-Tim]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

[Livingleged]

The price drop is not even that deep to be causing all this chaos, some whales sold, their holdings of about 32BTC worth about $2.5m and the weaker hands are already shaking some Are doing panic sell because they have negative thoughts about bitcoin in the coming days that is the reason the price is deeping. However one should not be carried away by all the narrative/speculation as this is the best time to buy because it’s just an opportunity to capitalise on buying cheaper than you should have bought and in few months the correction will start taking place and you appreciate buying now.

[Obim34]

Another opportunity to buy more Bitcoin at a cheaper price. When the year started, there were lots of expectation and prediction in the price of Bitcoin, for each quarter so many people gave their speculations, and for the entire year too. I speculated for the year to be bearish, I suggested for more dump than we will see in a pump, and it is going exactly that way, I already anticipated market dump, I'm not in surprise for what is happening and I only see privilege's to accumulate more Bitcoin.

[Makus]

The market has been in a confused state for a while because when it seems to be increasing there would suddenly be a rapid decline in the price of Bitcoin. This is an opportunity to buy the dip and keep on holding because the market would definitely increase at some point. The current state of Bitcoin is very discouraging because the market has been unstable for a long time and just when we hoped to start seeing some significant changes the market goes back to a low price. Regardless of the current state of the market patience is still going to pay off.

[Abu-Naim]

This is normal market conditions, it can be a reaction to maybe when some big investors sold large number of Bitcoin out at once, there will be panic by some investors that are not real investors, if they panic and sell, the market will really react to that and I think that is the reason for this dump.
Likewise, this is another opportunity to buy Bitcoin if you have money and have been waiting for the price to drop before you buy, this is an opportunity for you to buy and hold your Bitcoin or an opportunity to buy more now if you have some Bitcoin in your portfolio before now.

[Pikiboy]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

But from what I noticed it usually shows that when price are dropping majority of people who are holding bitcoin finds it very annoying for the price to drop with them knowing that, it is a natural thing and must go down and goes up again to make the market remain balanced. Bitcoin is not stable coin where people would be thinking of the price to remain on their expected price. Thus, we know that bitcoin is extremely volatile therefore holding trusted coin is more better than trading.

[Donneski]

Though the recent drop came as a surprise to many of us especially for people that recently added more sats to their portfolio but I don't think it should cause much panic. In the regular Bitcoin cycle, this period is usually the time for bullish trend in the market. I think the main issue now especially for short-term holders is that nobody is sure wether this is the bottom or it'll dip further but for long-term holders, volatility is part of the game. It's moments like this that birthed the advice that you should invest mostly with what you can afford leave for a long period.

[Hypnotizer]

So we’re back to that moment again…where we see all those posts whether FUD inspired or criticism about bitcoin. Surely we should expect correction or dips in bitcoin investment, it’s all about your risk management and your Hodling ability.

The crash was very fast tho, especially today because it went down about 6% today alone from around $71,400-ish to around $67k. Many people might panic but there’s no need for much panicking, it’s bitcoin and it will sure bounce back.

I don’t know what caused this crash though but whatsoever it was, it would surely bounce back as we’ve seen severs times before..

[Dogedegen]

My opinion is that it gives many people opportunity to buy more when the price is falling. The people that know what they are doing will take advantage of this period to buy more bitcoin. I have seen some people on some threads on the speculation board posting that they will buy more, this is the reason this period is very important.

But from what I noticed it usually shows that when price are dropping majority of people who are holding bitcoin finds it very annoying for the price to drop with them knowing that, it is a natural thing and must go down and goes up again to make the market remain balanced. Bitcoin is not stable coin where people would be thinking of the price to remain on their expected price. Thus, we know that bitcoin is extremely volatile therefore holding trusted coin is more better than trading.

I think you have a wrong analysis of the situation and that the reality is being confused based on what you are reading online. Only a small number of people are complaining about those things online and it is those that are impatient, over invested, or new to this market. That is all there is, for each person you find that is complaining you are not finding hundreds of others who are not complaining because they are just silent about this. Keep this in mind it is a known confirmation bias and people get sentiment analysis wrong because of things like that.

So we’re back to that moment again…where we see all those posts whether FUD inspired or criticism about bitcoin. Surely we should expect correction or dips in bitcoin investment, it’s all about your risk management and your Hodling ability.

The crash was very fast tho, especially today because it went down about 6% today alone from around $71,400-ish to around $67k. Many people might panic but there’s no need for much panicking, it’s bitcoin and it will sure bounce back.

I don’t know what caused this crash though but whatsoever it was, it would surely bounce back as we’ve seen severs times before..

A daily panic crash of 6% seems quite an example of Bitcoin maturing though, in previous times it would slide 20% or more before it would stop. This cycle has been quite weird for many reasons, Bitcoin used to be correlated at some times even with tech stock and things like that but this time it has been quite different. At this point we still can't be sure if the cycle theory holds or it does not, we have to wait for this year to see if it is going to be a thing of the past or it is still relevant. People forget things easily these days because of over consumption of content online, they can't even remember or check a chart from 4 years ago. According to the cycle, the bottom should be at the end of the year. So either it will be like that or the cycle thing will be put to rest and something new will happen. For now, this behavior is still aligned with the cycle theory.